Sri Lanka to Offer 2% Loans to Boost Small Businesses

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Sri Lankan State Minister for Small and Medium Enterprise Development Prasanna Ranaweera announced plans to provide entrepreneurs with loans at a concessionary interest rate of 2%.

He revealed that a dedicated fund of 30 billion rupees has been earmarked for this initiative, in collaboration with the Asian Development Bank.

Currently, 2.8% of the country’s population consists of entrepreneurs.

The minister expressed his ambition to increase this proportion to 10% by 2028.

Source: News First